Looking for a good short? Ursae Majoris, editor of the Overpriced Stock Service, has a suggestion.
"Financial Corp. of America is a stock you have to short just for the amusement value. The fact that it is also dropping is incidental," says Ursae Majoris--Latin for "big bear" and the pseudonym under which the stock letter's editor publishes his tome.
For instance, he says, the Irvine-based parent of American Savings & Loan Assn., the nation's largest thrift, last month denied and then confirmed reports that it has been holding discussions with potential buyers.
After the published reports that federal regulators had "been quietly trying for several months" to find a buyer for troubled FCA, company officials stated that they had held "no meaningful discussion with anyone."